VP Noli meets with Chinese PM Wen, VP Zeng
06 June 2006
(Beijing) Vice
President Noli ‘Kabayan’ De Castro discussed bilateral issues, including
Philippine-China trade growth, in separate meetings with Premier Wen Jiabao and
Vice President Zeng Qinghong of the People’s Republic of China.
De Castro, who
is on an official visit to China, reiterated the Philippine government’s
commitment to strengthening ties between the two countries, and asked for the
Chinese government’s help on specific issues.
The Vice
President informed the two leaders that even as there have been advances in
trade between the two countries; Chinese investments in the Philippines still
need to be improved.
He revealed
that Chinese investments in the country in the first three quarters of 2005
amounted to only
P82.3 million, accounting for only 0.14% of total foreign investments for the
period.
“We would
appreciate the assistance of the Chinese government in promoting investment
opportunities in the Philippines among your investors, particularly in
infrastructure development, agriculture and fisheries, housing and mining,” he
said.
In addition,
he said that the Philippine government welcomes Chinese investments in housing
“to help us cope with the country’s massive housing need.”
The Vice
President, who also chairs the Housing and Urban Development Coordinating
Council (HUDCC) in charge of relocating informal settler families affected by
the Rail Linkage Project (North Rail and South Rail), assured the Chinese
government and business sector of the Philippine government’s commitment to
complete the North Rail project.
De Castro
echoed to both Wen and Zeng the request of President Gloria Macapagal-Arroyo for
China to provide a similar financial support for the Main Line South project,
which would rehabilitate the existing railway line towards the Bicol
region.
“This will
spur economic and social development and boost tourism in that area,” he said.
De Castro also
informed Premier Wen that preparations are underway for the latter’s visit to
the Philippines scheduled for December this year.
He revealed
that there is a possibility of coming up with agreements in at least ten areas
of cooperation including energy, customs, inspection and quarantine as well as a
framework for economic partnership in the next ten years.
“China is one
of our most important partners and neighbors. Our partnership with them has
grown by leaps and bounds since the establishment of diplomatic ties in 1975,
but there are areas of cooperation that we still need to work on to address our
common concerns,” he said.
Ref no.
VPMEDIA 06-059
Management Information Services
Division (MISD). All rights reserved.